Free Daily Illinois Real Estate Auction Lists for February 08, 2010

Cook | Dupage | Kane | Kendall | Lake | McHenry | Will

The Illinois Foreclosure Listing Service, the leader in Illinois foreclosure investing provides accurate and up to date auction listings. We update our foreclosure auction list until midnight the night before the auctions so that you have the most current foreclosure auction information possible.

This list is provided free of charge; however the ilFLS.com offers even more information to our subscribers including:

• Foreclosures updated daily recorded directly from the county including secondary liens and mortgages
• Auction listings, weeks, sometimes months before other services
• Auction Results - our representatives in each county report same day auction results
• REOs - listings of bank owned properties
• Daily Probates Records - updated daily new fillings directly from the court house
• Foreclosure Investor Software - Search, Save, Manage all your leads online

All auctions posted on ILFLS.com are Judicial Sales. These sales are based upon an order or a judgment of the court directing the sale.

The most common type of judicial sale is the sale of property pursuant to a foreclosure of a mortgage on real estate. Until July 1, 1987, judicial sales were conducted by the judge hearing the mortgage foreclosure action or by the sheriff of the county in which the property was located. A change in the Illinois Mortgage Foreclosure Law allows foreclosing lenders and their attorneys to designate someone other than the judge or the sheriff to conduct the foreclosure sale. 735 ILCS 5/15-1506(f)(3).
The statute, effective July 1, 1987, states:

(f) without limiting the general authority and powers of the court, special matters may be included in the judgment of foreclosure if sought by a party in the complaint or by separate motion. Such matters may include, without limitation, ... (3) an official or other person who shall be the officer to conduct the sale other than the one customarily designated by the court....

Also in (735 ILCS 5/15-1507) (from Ch. 110, par. 15-1507) the law further states:

(b) Sale Procedures. Upon expiration of the reinstatement period and the redemption period in accordance with subsection (b) or (c) of Section 15-1603 or upon the entry of a judgment of foreclosure after the waiver of all rights of redemption, except as provided in subsection (g) of Section 15-1506, the real estate shall be sold at a sale as provided in this Article, on such terms and conditions as shall be specified by the court in the judgment of foreclosure. A sale may be conducted by any judge or sheriff.

Find more information regarding the current foreclosure law in the State of Illinois at the Illinois Compiled Statutes

ilFLS.com, the Illinois Foreclosure Listing Service provides Daily Auction Lists the day of the auction for free. To get the auction lists before the auction or to get more information about the properties listed try our ilFLS.com 3 Day Trial.

Provided by ilFLS.com - The Illinois Foreclosure Listing Service